Stocks Narrowly Mixed; BitAuto Keeps Advancing

Stocks were narrowly mixed at midday Tuesday as the Federal Reserve Open Market Committee opened a two-day meeting.

Any announcement from the committee would come Wednesday afternoon. The Fed has been scaling back its bond-buying program and is expected to continue to do so. But investors will be parsing a statement for the Fed's view on the speed of the economic recovery.

In the stock market today, the Nasdaq was up 0.2%. The S&P 500 and the Dow Jones industrial average were down less than 0.1%. Volume was running higher on the Nasdaq and lower on the NYSE.

Among IBD 50 stocks, 31 were up and 19 were down. The best performer was Chinese automobile website BitAuto (NYSE:BITA), up 4%. Volume was running a bit above average as it was breaking out of a late-stage base.

Tech stocks were generally advancing for the second straight day. Netflix (NASDAQ:NFLX) was up 3% on a Morgan Stanley upgrade.

GasLog (NYSE:GLOG) was up nearly 2% in above-average volume, but had been up much more in the morning. The company operates a fleet of tankers that transport liquefied natural gas.

WebMD (NASDAQ:WBMD) rose 4% as it shapes the right side of a late-stage base.

Level 3 Communications (NASDAQ:LVLT) was up nearly 2% in heavy trade. Its stock dropped sharply on Monday on news that the company would buy business ethernet provider TW Telecom for $5.6 billion in cash and stock.

See Also

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Chinese securities listed on U.S. exchanges are getting hit hard in the stock market today as China's major indexes took their biggest one-day plunge in eight years. Alibaba (NYSE:BABA) gapped down in above average volume, erasing gains from the last seven sessions. The e-commerce giant has tried ...

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07/27/2015 01:13 PM ET

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